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In my earlier post, I talk about the Liz Weston Budget . Now, MSN Money has put up a calculator on their website see how your budget breaks ...

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Tuesday, April 19, 2011

Suze Orman Expense Sheet - Budget and Emergency Fund Planner

Another great budgeting tool is on the Suze Orman's website, Suze Orman's Expense Sheet. You enter your emergency fund amount and break down how much you spend each month by category. Then, Suze lets you know what your essential expenses are and based on that how large your 8 months emergency fund should be.

If a budgeting category is off from the national average, the cell will highlight yellow and by hovering over the cell, you can see what the national average is. If you are spending less, that's great. However, if you are spending more than the national average on a category, you should reconsider that expense even if you have an above average income.

At the end of the process that takes 2 minutes, Suze will tell you to beef up your emergency fund if you do not have 8 months of essential expenses. If your emergency fund fits the bill, she'll say that you should aggressively pay down any debt.

2 comments:

DEAR SUZE ORMAN,RODNEY DOES ODD JOBS FOR HIS SISTER THAT LIVES IN ALBANY, SHE LIVES AT 45 CENTRAL AVENUE IN APPARTMENT 16H. HE GETS $20.00 DOLLARS WHEN SHECALLS US UP AND ASKS HIM TO DO SOMETHING FOR HER FOR EXAMPLE WILL YOU PICK UP MY MEDICINS AT CVS DRUG STORE? AND DOCTOR MACK TOLD RODNEY TORETIRER BECAUSE HIS HEALTH IS GETTING BAD. I KEPT QUITING MY JOBS BECAUSE THE BOSS WOULD PUTTRUDY ON A JOB THAT TRUDY COULDN'T HANDDLE. I AM WILLING TO WORK.SINCERELY YOURSMRS. TRUDY HALL

DEAR SUZE ORMAN,RODNEY AND I ARE ONLY ON SOCIAL SECURITY DISIBILITY EACH MONTH. WE ARE $500.00 DOLLARS SHORT EVERY MONTH FROM OUR MONTHLY BILLS. WE JUGGLE SOME OF THE MONTHLY AROUND.WE OWN THIS HOUSE THAT WE ARE LIVING IN RIGHT NOW. WHAT SHOULD WE DO?SINCERELY YOURSMRS. TRUDY HALL

About Me

I've started paying more attention to personal finance when my grace period for student loans expired in November 2009. Since then, I have been actively seeking any and all personal finance tips and information that I could use to succeed in my future.
My links in posts are not advertisements and I am not compensated for posting them. I only add links that I believe to be beneficial to the reader.
I will answer every question that is asked.